Mindax (MDX) Q4 2026 TU earnings summary

Executive summary

• Advanced stakeholder engagement and partnership discussions for the Mid-West Shared Infrastructure Project to facilitate iron ore transport and export.

• Continued metallurgical test work on Mt Forrest Iron Project ore samples to support future development studies.

• Progressed acquisition to increase ownership in Yilgiron Pty Ltd, aiming for 100% control of Mt Forrest Iron Project.

• Ongoing review and interpretation of geological data at Mt Lucky and Meekatharra Gold Projects to refine drill targets.

• Maintained strategic investments in Cashmere Iron Limited and Double Bell Resource Wealth Limited.

Financial highlights

• Raised $100,000 through share placements during the quarter, with further placements anticipated.

• Exploration and evaluation expenditure for the quarter was A$31,578, mainly for geologist services and tenement management.

• Cash payments to related parties totaled $85,867, covering director fees and reimbursements.

• Net cash used in operating activities was A$153,000 for the quarter and A$1,054,000 for the year to date.

• Cash and cash equivalents at quarter end were A$83,000.

Outlook and guidance

• Plans to undertake additional share placements in the upcoming quarter to support ongoing project advancement.

• Exploration expenditure is discretionary and will be managed in line with available funding and capital raising initiatives.

• Confident in ability to raise further capital based on past success and ongoing investor support.